Need a loan to purchase a property valued well above 50k (75k on zillow).
I only need 20k for the purchase but I know some lenders will only lend a minimum of 25k. The property is being purchased from my grandmothers estate and yes it is an older mobile home on 1/3 of an acre. Its age prevents traditional financing. Do not respond with offers of 5% per month interest, I will not pay 60% interest on a loan. I will however pay a reasonable rate for the risk.
I know points will be higher because of the small loan balance. We need to get this property closed fast. This loan can not be based on credit. We have 10k available but do not have time to save the rest in the short amount of time I have to complete this deal.